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HDFC: Welcome the Third Wave RallyFrom the bottom of Mar'20 of 1473 stock has rallied to 3000 odd levels in an impulsive manner which can be counted as clean impulse pattern of five distinct waves. This impulsive rise can be designated as our primary wave-1. After placing a high of 3021 in Nov'21 stock has undergone into a complex correction WXY in the primary wave-2 which was concluded in Jun'22 at the price level of 2026. Subsequently prices have bounced back and started rallying again in an impulsive manner. This rise can be assumed that stock is continuing its trend in a third wave rally. Maintaining the key level at 2026 one should remain bullish for long term investment and look for the usual third wave target of 4045 which is the Fibonacci 161.8% extension level. Investment Strategy: Buy in the zone of 2580-2630 and maintaining SL of 2026, look for the target of 4045 and later 5140.
HLong
by TradingSutra
Bandhan Bank AnalysisThe FASP for Bandhan is listed for 29-12-2022. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: Up to 6 Months How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANDHANBNKShort
by SathishChandrasekaran
MINDACORP: Inverse H&S BreakoutInverse Head and Shoulders Continuation: This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head. The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above. The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline. TRADING STRATEGY: Buy on cmp add on dips , keeping SL of 200 look for the measured target of 240-245 region.
NSE:MINDACORPLong
by TradingSutra
3
ADANIPORTSADANIPORTS:- around 2 years consolidation period. We can expect a bullish move wait for Darvas box breakout Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning
NSE:ADANIPORTSLong
by AjayDhakad_Keep_it_simple